The Cinesite group, one of the world’s largest independent visual effects (VFX) and animation studio collectives, today announced a series of transactions which will result in a new long-term funding package of US$215 million to support its continued operations, technological innovation and strategic expansion. This significant financial commitment underscores the company’s ambitions and confidence in the entertainment sector.
The funding package empowers Cinesite to overcome the challenges posed by recent industry disruption that has affected the entire sector. The industry will now be considering how best to work with its supply chain to identify, develop, test and validate solutions that deliver more sustainable and robust collaboration between vendors, studios, and filmmakers. Simultaneously, the Cinesite group will continue to expand its production capabilities across animation, visual effects, immersive content and motion capture, while leveraging cutting-edge technologies and exploring the potential of generative AI.
This announcement comes at a pivotal time for the entertainment industry, which has faced numerous challenges in recent years, including the LA wildfires as well as the impact of the Hollywood strikes. The Cinesite group retained as many of its highly skilled artists and technical talent as possible, ensuring its studio network was ready to seamlessly resume production as soon as the strikes concluded. This commitment to talent, while impacting the company’s short-term financials, was crucial to maintaining quality and skilled expertise, allowing the company to continue servicing client projects without further disruption.
Cinesite will capitalise on the growing demand for high-quality entertainment content worldwide while considering strategic acquisitions and partnerships to achieve its medium- and longer-term objectives.
We have served this industry for over 30 years and in that time we have seen many changes; our longevity comes in part from our ability to adapt. In the next phase of our business you can expect to see us taking advantage of opportunities thrown up by the disruption of the past couple of years. Thanks to the renewed commitment of our banks, shareholders and other stakeholders and the ongoing confidence our clients place in our services, we will continue to produce exceptional work for audiences, while fuelling innovation and studio growth.
Antony Hunt, Cinesite Group CEO
NatWest Corporate Bank led the financing alongside the studio’s long-standing relationship banks Barclays and Santander. Its shareholders, including family office Gryphion, supported the overall package of senior and junior debt and equity lines.
This funding package underscores the conviction of Cinesite’s shareholders and banks in the industry’s recovery and the continued demand for high-quality visual narratives, Cinesite’s strategic market position and growth potential, combined with its ability to consistently produce top-tier entertainment during unprecedented times, made renewing our support a straightforward choice. We are confident in Cinesite’s leadership and their ability to thrive as the broader industry restores its equilibrium.
William Ford, Chief Investment Officer at family office Gryphion
The Cinesite Group is a major player in the visual effects and animation industry, contributing to a wide range of notable projects during its 32+ year history. Its VFX spans blockbuster films like the Marvel Cinematic Universe, James Bond, and Harry Potter franchises, as well as acclaimed television series such as “The Witcher”, “The Mandalorian,” and “Band of Brothers.” In animation, the studio has delivered films including “Teenage Mutant Ninja Turtles: Mutant Mayhem” and “The Addams Family” series. Cinesite’s upcoming projects include “Warfare”, “Michael” , “G2O” and a new “Smurfs” film. The studio has moved into animated series with productions like “Iwájú” for Disney+, gaming cinematics such as “Invincible: Guarding the Globe” for Ubisoft as well as pioneering immersive content for clients such as the multi-sensory experience Frameless and The National Portrait Gallery. The company’s commitment to artistic excellence and technological innovation has solidified its position as a leading force in the global entertainment landscape.
